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We are in business for3 years 10 months
Active users800 000 +
Daily transaction value-PLN
KZCash/Bitcoin (KZC/BTC) rate
The moment when Bitcoin came into encounter with the mainstream, around 17th of December 2017, turned out to be a breakthrough. More and more governments have started to treat the cryptocurrency market really seriously. There were voices about Russian KryptoRubles or Estonian Estcoin. Mass media even flowed with information about the "Kryptozłoty" project that lasted only two days. However, the national digital currencies should not be scratched off, because Kazakhstan shows that it can be done well.
KZCash is a relatively new regional cryptocurrency on the exchange market and, more importantly, the fastest growing digital currency in Asia. Despite the official launch of the blockchain in October 2017, KZC was listed on the coinmarketcap.com list already in January 2018, in April operating on three separate KZCash exchanges - in the KZC/BTC exchange rate, but also in pair with the US dollar or Litecoin. At the beginning of March, the websites of the Kazakh digital currency were visited by over 25,000 unique users. This is a really big result, as for the currency existing then less than half a year.
KZC’s infrastructure is based on the X11 algorithm - an improved encryption network, combining 11 mixing functions: blake, bmw, groestl, jh, keccak, skein, luffa, cubehash, shavite, simd and echo. The algorithm met with great popularity already in the year of releasing to the market (2014), because it was characterized by energy efficiency, in contrast to Bitcoin SHA-256 blockchain. One of the advantages decisive for the success of X11 was its resistance to dedicated ASICs mining tools, which turned out to be only partial. Nevertheless, the absolute security provided by the 11 unique hash functions proved to be valuable enough to make currencies based on it (such as KZC or Dash) a significant success on the digital currencies exchange market.
One of the unique features offered by KZCash is the official map of traders, named KZ Map for the unification. The proposed system is similar to Google maps (except the route search function). Each stationary store and a service premise that accepts payments with KZC may register in the KZCash system, and its location and User’s reviews will be displayed in the application. The creation of KZ Map turned out to be extremely profitable because it brings benefits to each of the parties. Holders of digital currency can easily find premises that accept KZC, business owners can promote goods and services on an international scale, while showing the innovation of their company. However, the service provider of KZCash gains the most. By facilitating to users the use of cryptocurrencies and encouraging companies to cooperate, it lead limited self-promotion, both on the B2C front and B2B, which translates into popularity and the increase in the KZC rate. At the beginning of April 2018, KZCash established cooperation with 751 companies located in 11 different countries.
The first quarter of 2018 was devoted to the development of KZC infrastructure on the Asian and Eastern European markets. Additional efforts in the first quarter also included work on a mobile application for Android and iOS. The first ATMs were also tested, which should soon appear in selected cities in Asia. However, KZCash is aiming much higher. Kazakh currency is aming in Australia and New Zealand markets. In addition, the business plan of the creators of the digital currency assumes finding KZC in the top 100 of the ranking of coinmarketcap.com in May 2018 and the skip to the first thirty just a month later. Sounds like empty promises? KZCash is growing at a dizzying speed, thanks to which it can become for the regional digital currencies what Bitcoin was for the cryptocurrency market itself.
To maintain a decentralized nature, KZCash uses the masternode technology, which is a public network nodes. Masternods make decisions about transactions, participate actively in mixing transfers and store a block of blockchain. Thanks to the involvement of the community and the attractive system of rewards, more and more users decide to join the quorum, which directly translates into the effectiveness of the digital currency KZC. Although the masternode activation process is a complex, multi-stage process, the KZCash team took care of the user's comfort by putting on their website a document explaining each step in a simple way. Thanks to using masternodes, it is possible to use services such as InstantSend, which is an instant transfer, as well as PrivateSend - a completely anonymous transfer based on the denomination and mixing of randomly selected parts of the digital currency.
Simplicity and transparency give KZCash credibility, which in the cryptocurrency market is the first step towards success. However, there is much more circumstances that make up the popularity in such a short time. From the geopolitical location of Kazakhstan in the center of the eastern economic zone of the "Silk Road", along by a team of qualified specialists, to the decision to use masternodes and to encourage the first users with the possibility of obtaining passive income. Regardless of whether it will be the only one or only the first of the regional digital currencies, the development of KZC is a phenomenon worth watching with holded breath.